Hormel Foods (HRL) FY2012 results: revenue $8.2 billion, up 4.3% on the year
Hormel Foods Corp. (HRL) reported revenue of $8.2 billion for fiscal 2012, the year ended 28 October 2012, up 4.3% on the year before. Net income was $500 million, up 5.5%, and diluted earnings per share $0.93. The figures are the company's own, from the 10-K it filed with the SEC on 19 December 2012.
Revenue
$8.2 billion
+4.3% on the year
FY2008FY2012
Operating margin
9.5%
FY2008FY2012
Net income
$500 million
+5.5% on the year
FY2008FY2012
Diluted EPS
$0.93
+6.9% on the year
FY2008FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
8,231
7,895
7,221
+4.3%
Cost of revenue
6,899
6,561
5,982
+5.1%
Gross profit
1,332
1,334
1,239
-0.2%
Gross margin
16.2%
16.9%
17.2%
Research and development
29.8
29.4
27.6
+1.4%
Selling, general and administrative
606
619
605
-2.1%
Operating income
781
n/a
n/a
Operating margin
9.5%
n/a
n/a
Interest expense
12.9
22.7
26.6
-43.3%
Pre-tax income
758
719
625
+5.5%
Income tax
253
240
225
+5.7%
Effective tax rate
33.4%
33.3%
36.0%
Net income
500
474
396
+5.5%
Net margin
6.1%
6.0%
5.5%
Diluted EPS
$0.93
$0.87
$0.73
+6.9%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
518
490
486
+5.6%
Capital expenditure
132
96.9
89.8
+36.5%
Free cash flow
385
394
396
-2.1%
Free cash flow margin
4.7%
5.0%
5.5%
Cash from investing
n/a
n/a
-258
Cash from financing
n/a
n/a
-144
Depreciation and amortisation
119
124
126
-3.8%
Share-based compensation
16.7
17.2
14.4
-3.0%
Buybacks
61.4
153
69.6
-59.9%
Dividends paid
152
130
109
+17.1%
Dividend per share
$0.30
$0.26
$0.21
+17.6%
Diluted shares, weighted
538m
544m
541m
-1.1%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
2,819
2,657
2,401
+6.1%
Non-controlling interest
5.5
3.2
6.0
+69.1%
Debt
250
250
350
0.0%
Other liabilities
1,489
1,335
1,297
+11.6%
Total liabilities and equity
4,564
4,244
4,054
+7.5%
Fixed assets
924
907
922
+1.9%
Goodwill
631
631
629
-0.0%
Intangible assets
123
132
142
-6.8%
Investments
77.4
76.1
50.6
+1.7%
Cash and equivalents
682
463
468
+47.3%
Receivables
507
461
431
+10.0%
Inventory
951
886
794
+7.3%
Other assets
668
688
618
-2.9%
Total assets
4,564
4,244
4,054
+7.5%
10-K for the year ended 28 October 2012, filed 19 December 2012: the filing.